Business News

Coronavirus: Marriott reopens all hotels in China as travel rebounds

The hotel giant says it has seen a pick-up in business travel as the sector shows signs of recovery.

Geely's Polestar plans China showroom expansion to compete with Tesla: sources

SHANGHAI Reuters) - Polestar, the premium electric vehicle maker owned by China's Geely, plans a big expansion of its showroom network in the mainland, sources said, as it prepares for delivery of cars to compete with Tesla Inc's locally made Model 3.

Southwest offers buyout packages, temporary leaves to 'ensure survival'

Southwest Airlines Co on Monday extended buyout packages and temporary paid leaves to employees in what its chief executive said was an effort to "ensure survival" as the carrier braces for a slow recovery from the coronavirus pandemic, according to documents detailing the packages that were seen by Reuters.

Chipotle CEO on stores damaged in protests: 'We can patch up and fix'

"Fortunately, all of our employees have been safe," Chipotle CEO Brian Niccol said in a "Mad Money" interview.

Oil prices hold ground ahead of OPEC+ meeting on extended output cuts

Oil prices rose in early trade on Tuesday, with traders waiting to see whether major crude producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week.

Workers return to Mexico's border factories as auto sector reopens

Tens of thousands of workers lined up before dawn to return to work at automotive factories along Mexico's northern border on Monday, the first day that industries joined the country's list of essential activities beginning to reopen.

Stocks under pressure as Trump vows to end violent protests

Asian stocks were set to come under pressure on Tuesday following a dip in Wall Street futures as U.S. President Donald Trump vowed to use force to end violent protests in American cities, souring a previously upbeat market mood.

Lockdown break-ups and job changes boost rentals

Supply of new properties for rent is not keeping up with demand, property giant Rightmove says.

Black Workers, Already Lagging, Face Big Economic Risks

Black employment rates are plummeting, and the evolving wealth and income hit could fall on the shoulders of those ill-equipped to bear it.

Jim Cramer on Wall Street's relation to George Floyd protests: 'The market has no conscience'

The "Mad Money" host worries how the nationwide protests, which he generally supports, could impact the fight against coronavirus.

Cramer's lightning round: Harley-Davidson is not a buy

"Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

Boeing takes Embraer to arbitration over failed aviation deal

Boeing Co has taken former partner Embraer SA to arbitration over a failed $4.2 billion deal, the Brazilian planemaker said in a securities filing on Monday night.

Facebook staffers walk out saying Trump's posts should be reined in

Facebook employees walked away from their work-from-home desks on Monday and took to Twitter to accuse Chief Executive Mark Zuckerberg of inadequately policing U.S. President Donald Trump's posts as strictly as the rival platform has done.

Medical Workers Should Use Respirator Masks, Not Surgical Masks

The surgical masks used in risky settings like hospitals offer much less protection against the coronavirus, an analysis found.

Coronavirus: Oxfam to start reopening in England from 15 June

The charity has not confirmed which shops will open first, but says it is keen to start work again.

Op-Ed: What we need to do for our black daughter after the killing of George Floyd

My wife and I don't for one minute pretend to know what it's like to be black, but we know we want to be part of the solution for our adopted little girl.

Coronavirus will haunt US economy for a decade and wipe out $8tn, says CBO

Unemployment is soaring to levels unseen since the 1930s Great Depression as Congress debates another $3tn aid package

The ongoing coronavirus pandemic will haunt the US economy for a decade, wiping close to $8tn off economic growth, according to new projections released by the Congressional Budget Office (CBO) on Monday.

In a letter to lawmakers CBO director Phillip Swagel projected the virus will reduce US economic output by 3% through 2030, a loss of $7.9tn.

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New Regulator Warns Health Measures, Like Masks, May Hurt Banks

Brian P. Brooks, the acting head of the Office of the Comptroller of the Currency, warned state and local leaders that requiring face masks could help bank robbers.

Ryanair must face U.S. shareholder lawsuit over unionization comments

Ryanair Holdings Plc and Chief Executive Michael O'Leary failed to persuade a U.S. judge to dismiss a securities fraud lawsuit accusing Europe's largest budget airline of defrauding them by downplaying its willingness to recognize labor unions.

First the pandemic hit them. Now retailers and restaurants have to rebuild after protests

Many retailers and restaurants hit by the coronavirus pandemic were just starting to reopen. Now, nationwide protests prompted by the death of George Floyd have resulted in shattered storefronts, looting and forced many doors back shut.

‘All of It Is Toxic’: Misinformation About Protests Surges Online

In the universe of false online information, George Floyd remains alive and George Soros is to blame for the protests.

Visa sees recovery in U.S. payments volume in May

Visa Inc's total U.S. payments volume fell at a much slower pace in May from the previous month, indicating that consumer spending was picking up as the government starts to ease coronavirus-induced lockdowns.

U.S. companies issue shares at fastest rate ever, selling the rally

U.S. public companies sold more than $60 billion in shares in May, the biggest monthly haul ever, as they capitalized on a stock market rally fueled by hopes that the COVID-19 pandemic is subsiding.

Retailers, Battered by Pandemic, Now Confront Protests

Even as major chains boarded up stores and halted operations, they largely sought to convey empathy for demonstrators and did not condemn the damage to their businesses.

Airlines Say It’s Safe to Travel. But Is It?

They’re requiring masks, taking temperatures and speeding check-ins. But as one travel expert put it, “So much is uncertain right now.”

After Reality Star’s Death, Japan Vows to Rip the Mask Off Online Hate

While many in the country abhor the kind of harassment Hana Kimura endured before her apparent suicide, some warn that cracking down on it could also chill rising internet activism.

Wall Street closes higher as recovery signs soothe protest, pandemic worries

U.S. stocks posted gains on Monday as signs of U.S. economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic and rising U.S.-China tensions.

How a City Once Consumed by Civil Unrest Has Kept Protests Peaceful

Newark, New Jersey’s largest city, made no arrests and reported only minimal property damage during a weekend march.

New Jersey to open outdoor dining, retail shops on June 15 as tri-state region slowly eases restrictions

Currently, restaurants and nonessential retailers in New Jersey are only allowed to provide curbside service.

Police Target Journalists as Trump Blames ‘Lamestream Media’ for Protests

‘I’ve really never seen anything like this’: Reporters and news photographers describe being roughed up, arrested and shot by projectiles while covering demonstrations across the country.